Riyadh: The Kingdom of Saudi Arabia achieved a 22.9% growth in inbound visitor spending during the first quarter of 2024 compared to the first quarter of 2023, with their total spending exceeding SAR45 billion. Also, the Kingdom recorded a surplus in the travel account amounting to SAR24 billion, representing a growth rate of over 46% compared to the same period in 2023.
During the same period, outbound travellers from the Kingdom spent an estimated SAR21 billion, according to preliminary data from the Saudi Central Bank’s travel account in the balance of payments.
The increase in spending by inbound visitors to the Kingdom is part of the continuous successes achieved by the tourism sector in the Kingdom, where it ranked first on the United Nations tourism list for the growth rate of international tourists and the growth rate of tourism revenues among the top major tourist destinations globally in 2023 compared to 2019.
The data also confirms the effective efforts made by the tourism system to achieve glob
al leadership in the sector by applying the best practices in tourism development and improving tourism services and products. This includes ongoing cooperation with all government entities to support the development of the tourism sector in the Kingdom.
This achievement, which reflects the extensive efforts made by the Ministry of Tourism and other components of the Saudi tourism system, not only enhances the tourism sector but also significantly contributes to the growth of the national economy as part of the framework of the National Tourism Strategy.
Source: Saudi Press Agency